SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
AMENDMENT TO FORM 8-K FILED JANUARY 20, 2000
CURRENT REPORT PURSUANT
TO SECTION 13 OF 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported) :
I.G.E., INC.
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(Exact name of registrant as specified in its charter)
TEXAS
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(State or other jurisdiction of incorporation or organization)
14-2488828
---------------------------------
(IRS Employer Identification No.)
6614 SANGER
WACO, TEXAS 76710
(254) 751-9700
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(Address, including zip code, and telephone number,
including area code, of registrant's principal
executive office)
<PAGE>
Item 5. OTHER EVENTS
(i), (ii), and (iii) No changes from original 8K filed January 20, 2000
Item 7. Financial statements, Pro forma Financial Information, and
Exhibits
Exhibits 7.1 and 7.2 No change from original 8K filed January 20, 2000
Exhibit 7.3 Pro forma Balance Sheet and Pro forma statements of Income
for the nine months ended November 30, 1999, and Pro forma statement of
income for the twelve months ended February 28, 1999 reflecting the
combined activities of IGE and LPI.
Signatures
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
I.G.E. Inc.
By: /s/Brian D. Pardo
---------------------------------------
Brian D. Pardo
President and Chief Executive officer
Date: March 9, 2000
<PAGE>
EXHIBIT 7.3
I.G.E., INC.
FOOTNOTES TO PRO FORMA COMBINED CONSOLIDATED FINANCIAL STATEMENTS
AS OF SEPTEMBER 30, 1999
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
The following unaudited pro forma condensed consolidated financial statements
are presented to give effect to the share exchange approved by shareholders of
Life Partners, Inc. (LPI) and I.G.E., Inc. (IGE) on January 18, 2000 and January
19, 2000 respectively under the pooling of interest method of accounting.
The unaudited pro forma financial statements assume that the LPI had been
acquired by IGE as of November 30, 1999.
The pro forma financial statements are not necessarily indicative of results of
operations or the financial position which would have occurred had the merger
and acquisition described above incurred at the inception of these entities, nor
are they necessarily indicative of future results of operations or financial
position. The unaudited pro forma combined consolidated financial statements
should be read in connection with the historical financial statements of LPI,
including the notes thereto and the historical financial statements of IGE
including the notes thereto.
<PAGE>
LIFE PARTNERS HOLDINGS, INC.
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
NOVEMBER 30, 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Life Life Pro Forma As Adjusted
Partners Partners,
Holdings, Inc. Adjustments For
Inc. Acquisition
-------------- --------------- ------------- ---------------
ASSETS
Current assets
<S> <C> <C> <C> <C>
Cash $ - $156,595 $ - $156,595
Accounts receivable -
employees 15,995 15,995
Current portion -
Long-term notes 10,909 10,909
receivable
Prepaid expenses 3,927 3,927
-------- -------- ------- --------
Total current assets - 187,426 - 187,426
Property and equipment:
Machinery and equipment 35,190 35,190
Transportation equipment 173,775 173,775
--------- --------- ------- --------
- 208,965 - 208,965
Accumulated depreciation (112,974) (112,974)
--------- -------- ------- --------
- 95,990 - 95,990
Other assets
Notes receivable, net of current
portion, shown above,
and allowance for bad debt of 27,743 27,743
Receivable from affiliated company 30,111 - -
Deposits 2,500 2,500
Other 4,645 4,645
--------- --------- ------- ---------
30,111 34,888 - 34,888
Total assets $ 30,111 $318,305 $ - $318,305
========= ======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 25,500 $ 18,054 $ - $ 43,554
Due to stockholder 83,676 - 83,676
Income tax payable 63,500 63,500
Reserve for lawsuits 76,328 76,328
Accrued liabilities 102,126 102,126
--------- --------- -------- --------
Total current liabilities 109,176 260,008 - 369,184
Long term debt - 350,000 - 350,000
Stockholders' equity
Common stock 99,483 1,000 (99,483) 1,000
Additional paid in capital 4,213,168 - 99,483 4,312,651
Accumulated deficit (4,391,716) (292,703) (4,684,419)
--------- ------- ------- ---------
Total stockholders' equity (79,065) (291,703) - (370,768)
Total liabilities and
stockholders $ 30,111 $318,305 $ - $348,416
equity
========= ======== ======== =========
</TABLE>
See accompanying notes to unaudited pro forma
combined consolidated financial statements.
<PAGE>
LIFE PARTNERS HOLDINGS, INC.
PRO FORMA CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED NOVEMBER 30, 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Life Life Pro Forma As Adjusted
Partners Partners,
Holdings, Inc. Adjustments For
Inc. Acquisition
-------------- --------------- ------------- ---------------
<S> <C> <C> <C> <C>
Revenues $ - $4,052,421 $ - $4,052,421
General and
administrative expense - 3,833,247 3,833,247
Depreciation - 19,951 19,951
-------- ---------- -------- ----------
- 3,853,197 - 3,853,197
-------- ---------- -------- ----------
Operating income - 199,224 - 199,224
-------- ---------- -------- ----------
Interest income 97,801 97,801
Interest expense - (12,250) (12,250)
-------- ---------- -------- ----------
- 85,551 - 85,551
-------- ---------- -------- ----------
Income (loss) before income taxes - 284,775 284,775
Provision for income taxes - 37,042 37,042
--------- ---------- --------- -----------
Net income (loss) $ - $ 247,733 $ - $ 247,733
========= ========== ========= ===========
</TABLE>
See the accompanying notes to the unaudited pro forma
combined consolidated financial statements.
<PAGE>
LIFE PARTNERS HOLDINGS, INC.
PRO FORMA CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
FOR THE TWELVE MONTHS ENDED FEBRUARY 28, 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Life Life Pro Forma As Adjusted
Partners Partners,
Holdings, Inc. Adjustments For
Inc. Acquisition
-------------- --------------- ------------- ---------------
<S> <C> <C> <C> <C>
Revenues $ - $5,941,690 $ - $5,941,690
General and
administrative expense 10,176 6,054,589 6,064,765
Depreciation - 26,003 26,003
----------- ---------- --------- ----------
10,176 6,080,592 - 6,090,768
----------- ---------- --------- ---------
Operating income (10,176) (138,902) - (149,078)
---------- ---------- --------- ---------
Interest income - 171,825 171,825
Interest expense - (18,375) (18,375)
---------- ---------- --------- ---------
- 153,450 - 153,450
---------- ---------- --------- ---------
Income (loss) before
income taxes (10,176) 14,548 4,372
Provision for income taxes - 26,458 26,458
---------- ---------- ----------- ----------
Net income (loss) $(10,176) $(11,910) $ - $(22,086)
========== ========== =========== ===========
</TABLE>
See the accompanying notes to the unaudited pro forma
combined consolidated financial statements.
